UK regulator FCA to publish whistleblower review in early 2027

FCA to Release Whistleblower Review in Early 2027 Following Andriesz Case

FCA's Response and Planned Review After Whistleblower's Death

LONDON, Oct 13 (Reuters) - Britain's markets regulator plans to publish a report early next year into whether it could have done more in its interactions with a whistleblower, the Financial Conduct Authority said on Tuesday.

Background to the Andriesz Case

• FCA Chief Executive Nikhil Rathi told lawmakers the death of Simon Andriesz last month was "terribly sad" and that it was important for the regulator to reflect on how it communicated and engaged with whistleblowers.

• The FCA had been in contact with Andriesz over many years and his death sparked questions by lawmakers about whether it took his allegations sufficiently seriously.

Concerns Raised by Representatives

• Andriesz died by suicide last month. John Robertson, one of his representatives, has said he had been recognised as a whistleblower in the US but did not feel he received the same level of engagement from British authorities.

Initiation of Independent Review

• The cross-party Treasury Committee asked whether the FCA had considered asking an external expert to review the case. Rathi said that Lea Paterson, who joined the FCA's board this month, would launch the review as an independent non-executive.

Scope and Purpose of the Review

• Paterson is expected to examine whether there were things the FCA could have done better and help the organisation learn for the future.

Whistleblowing Reports and FCA Actions

Recent Statistics

• The FCA has said the number of whistleblowing reports rose by 22% last year. Around 42% led to direct action and another 53% informed its wider work and supported harm prevention.

Reporting and Editorial Credits

(Reporting by Kirstin Ridley, Editing by Xevi Fontdegloria and Alex Richardson)